San Jose Office Tower Lands $200M

By IvyLee Rosario

HQ@first

Lane Partners has secured $200 million for the acquisition of HQ@first, a three-property creative office tower in San Jose. NKF Capital Markets arranged the financing placed with Blackstone Mortgage Trust.

Located at 110, 120 and 130 Holger Way, the 603,666-square-foot, Class A asset was constructed in 2010 and is situated on just under 10 acres. The LEED Gold certified property features landscaped paths, views of the bay and hills, patio areas, a fitness center with locker rooms, executive business center, natural light, outdoor barbecue, basketball court, game room and 300-plus seat cafeteria. 

“Given the strength of the sponsorship and quality of the asset, the debt markets showed a strong interest in this opportunity,” said Ramsey Daya, vice president of NKF Capital Markets, in prepared remarks. “HQ@first is truly a trophy asset that is San Jose’s most walkable and amenitized campus. We see this project gaining even more momentum and value over the coming years as the Silicon Valley market continues its upward growth.”

HQ@first is adjacent to multiple VTA Light Rail stations that connect to Caltrain, AMTRAK, ACE Train, and eventually BART. The property offers access to the @first retail center across the street. @first tenants include Chipotle, Chick-Fil-A, Five Guys, Panera, Coffee Bean, CVS, Target, Chase, Courtyard by Marriott and Hyatt House.

Daya, along with Managing Director Chris Moritz of the debt and structured finance team executed the financing. Recently, NKF Capital Markets represented Felton Properties in the sale of 400 Sixth Ave., a Class A office tower in Portland, Ore.

Image courtesy of NKF Capital Markets